2020 State Budget Adopted
Budget of Ukraine allocates 5.5% of GDP for the defense sphere
Photo Office of the President of Ukraine
Kyiv — The Verkhovna Rada adopted a bill “On the State Budget of Ukraine for 2020” on Thursday, Nov. 14.
The draft budget for the next year was supported by 280 members of parliament, 56 disapproved.
Earlier, the Cabinet of Ministers named the main expenses provided by the 2020 draft budget. The state budget envisages revenues for ₴1.01 trillion, and expenses in the amount of ₴1.2 trillion.
For the first time, the country’s main financial document does not include raising taxes to pay foreign debt, instead, the 2020 State Budget prioritized medicine, education, and infrastructure, the Cabinet stated.
“But maybe the most important is the defense and national security of Ukraine sphere, which is measured to an unprecedented 5.45% of GDP in the law,” the statement said.
Earlier we reported, that in Ukraine allocated ₴141 billion for servicing the state debt in 2020.